CVS Tender for Longs Drug Successful

October 19, 2008

Woonsocket, R.I. CVS Caremark Corp. on Monday announced that its tender offer for shares of common stock of Longs Drug Stores Corp. at a price of $71.50 per share has been successful. The offer period expired at 6:00 p.m., New York City time, on Friday, Oct. 17, 2008.

Tom Ryan, chairman, president and CEO of CVS Caremark, commented, "We are very pleased with the strong response to our tender offer. Having now satisfied all closing conditions, we look forward to promptly purchasing the tendered shares and completing our merger with Longs."

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